3 ASX dividend stocks to buy with 5% to 7% yields

Analysts are tipping these buy-rated shares to provide great yields.

| More on:
Man holding Australian dollar notes, symbolising dividends.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Fortunately for income investors, the Australian share market is one of the most generous in the world when it comes to dividends.

Year in, year out, countless ASX listed companies share a portion of their profits with their lucky shareholders.

But with so much choice, it can be hard to decide which ones to buy above others.

With that in mind, let's take a look at three ASX dividend stocks that analysts think could be quality options for investors right now and are forecast to offer dividend yields of 5% to 7%. They are as follows:

Accent Group Ltd (ASX: AX1)

Bell Potter continues to see a lot of value in this ASX dividend stock. Accent is a footwear-focused retailer and the owner of a large number of store brands such as HypeDC, Stylerunner, and The Athlete's Foot.

The broker currently has a buy rating and $2.50 price target on its shares.

As for income, Bell Potter is forecasting fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.98, this represents dividend yields of 6.5% and 7.4%, respectively.

Dexus Industria REIT (ASX: DXI)

Over at Morgans, its analysts believe that Dexus Industria could be an ASX dividend stock to buy. It is a real estate investment trust that invests in high quality industrial warehouses across Sydney, Melbourne, Brisbane, Perth and Adelaide.

Morgans currently has an add rating and $3.20 price target on its shares.

In respect to that all-important income, the broker is expecting dividends per share of 16.4 cents in FY 2024 and then 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.84, this will mean dividend yields of 5.75% and 5.85%, respectively.

Transurban Group (ASX: TCL)

The team at Citi thinks toll road operator Transurban could an ASX dividend stock to buy right now. The broker currently has a buy rating and $15.50 price target on its shares.

Citi believes the company is positioned to provide investors with attractive dividend yields in the coming years thanks to its positive exposure to inflation.

The broker is forecasting dividends per share of 63.6 cents this year and then 65.1 cents in FY 2025. Based on the current Transurban share price of $12.32, this will mean yields of 5.15% and 5.3%, respectively.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Man looking amazed holding $50 Australian notes, representing ASX dividends.
Dividend Investing

2 ASX dividend shares to buy next week

Brokers have good things to say about these income options.

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Dividend Investing

Top brokers name 3 ASX dividend stocks to buy

These dividend shares were give the thumbs up by analysts last week. But why?

Read more »

Man smiling at a laptop because of a rising share price.
Dividend Investing

One ASX dividend machine I'd buy over Fortescue shares right now

When it comes to dividends, growth can be better than a high yield.

Read more »

Excited woman holding out $100 notes, symbolising dividends.
Dividend Investing

3 ASX dividend stocks with great yields to buy today

These dividend options have been given the thumbs up by analysts.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Dividend Investing

How big will the BHP dividend be in 2025?

Let's see if the mining giant will be rewarding shareholders with more generous dividends.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Dividend Investing

Buy Woolworths and these ASX 200 dividend shares

Analysts think that income investors should be buying these stocks.

Read more »

Happy man holding Australian dollar notes, representing dividends.
Dividend Investing

Buy these ASX dividend shares for passive income

Analysts think these shares could be a good source of passive income.

Read more »

Woman calculating dividends on calculator and working on a laptop.
Dividend Investing

Analysts say these ASX dividend stocks are top buys

Looking for income? Analysts are saying good things about these shares.

Read more »